The price of North Sea oil (Brent) is down 1.3 percent to $101.70 per barrel. However, the price of natural gas - which is starting to look like a scarce commodity in several Asian countries - is around €51 per megawatt-hour on the Amsterdam commodities exchange.
Individual ships have been allowed to pass through the Strait of Hormuz despite Iran's repeated attacks and threats against energy shipments from other oil-rich countries around the Persian Gulf. Iran's attacks come in the wake of massive US and Israeli bombings of Iran since February 28.
The oil price was around $70 per barrel and the gas price was €30 per megawatt-hour in the days leading up to the US and Israeli attack on Iran on February 28.
